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27 August, 12:45

You can afford monthly deposits of $270 into an account that pays 4.8% compounded monthly. How long will it be until you have $8,200 to buy a boat?

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  1. 27 August, 13:08
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    29 months

    Step-by-step explanation:

    My TVM solver says that balance will be reached after about 29 monthly payments.
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